The Park Hotels, India’s leading luxury hotel chain has opened its new 7 star hotel in Hyderabad on April 22nd. The hotel promoted by Apeejay Surrendra Park Hotels Private Limited is built at an estimated cost of Rs.340 crore. Chairperson Priya Paul said that the Hyderabad project was its ninth boutique hotel and the first green building hotel, with 270 rooms, has a gold rating from Leadership in Energy and Environmental Design. The company is targeting Rs 100 crore revenues from the new venture in a year.
The group plans to launch a 250-room hotel at Pune in January 2013 and another 250-room one in Kolkata in 2014. It would also launch one luxury resort at Jaipur with 200 rooms. In all, it has 1,145 rooms. The company has plans to develop properties in Mumbai and Goa as well and would shell out an estimated amount of Rs. 1,000 crore to develop Greenfield projects and manage the hotels in the next 3- 5 years.